Studying the Digital Marketing Strategy through Big Data in Banking Sector

Title

Studying the Digital Marketing Strategy through Big Data in Banking Sector

Author

Ionuț-Adrian Mosescu, Ștefan-Claudiu Căescu, Florina Botezatu, Raluca-Giorgiana Chivu

Classification JEL

M31

Abstract

Along with the development of the Internet and IT technologies, there were noted changes in Digital Marketing Strategy also in Banking Sector. Until recent times, the customers have not had access to a wealth of information about a particular financial product, nor a wide range of financial products available from which to choose at the time of purchase. Thus, until a commercial product was purchased, the buyer went through several stages of the buying process. Banks made real efforts to understand their customers better, why they choose certain financial products, and what their needs are. Researches, tests, and studies were conducted on customers behavior, for the banks to be able to deliver financial products and services that matched the expectations of its customers so that they can be satisfied. But now, in a century of speed and permanent change, more and more customers use the internet in all daily activities from work to leisure activities, social networking, information, shopping and perform banking transactions. These online activities are recorded as datasets and become parts from the Big Data technology. Using the Big Data technology both customers will be able to find the right financial product or desired information, and the Bank to better understand their customer’s behavior and thus better address digital marketing campaigns.

Keywords

Big Data technology, Digital Marketing, customer behavior, customer experience, financial product.

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Please cite this article as: etimm (2019) Studying the Digital Marketing Strategy through Big Data in Banking Sector. Journal of Emerging Trends in Marketing and Management. http://www.etimm.ase.ro/?p=548